Cadence Bancorp (NYSE:CADE) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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Cadence Bancorp (NYSE:CADE) released its quarterly earnings results on Thursday. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05), Bloomberg Earnings reports. The firm had revenue of $194.81 million for the quarter, compared to the consensus estimate of $191.15 million. Cadence Bancorp had a return on equity of 9.81% and a net margin of 20.00%. During the same quarter last year, the firm posted $0.50 earnings per share.

Shares of CADE stock opened at $16.34 on Friday. The business’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $16.97. Cadence Bancorp has a one year low of $14.66 and a one year high of $23.22. The stock has a market capitalization of $2.26 billion, a PE ratio of 10.61 and a beta of 1.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

Several research firms have recently weighed in on CADE. JPMorgan Chase & Co. cut Cadence Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $16.50 in a report on Thursday, October 24th. SunTrust Banks boosted their price target on Cadence Bancorp from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Zacks Investment Research upgraded Cadence Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. ValuEngine upgraded Cadence Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Finally, Piper Jaffray Companies cut Cadence Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $16.50 in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, Cadence Bancorp has an average rating of “Hold” and a consensus target price of $18.25.

In related news, COO Samuel M. Tortorici bought 6,500 shares of Cadence Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the chief operating officer now directly owns 150,786 shares of the company’s stock, valued at approximately $2,364,324.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul B. Murphy, Jr. purchased 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were acquired at an average price of $15.88 per share, for a total transaction of $158,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 508,320 shares in the company, valued at approximately $8,072,121.60. The disclosure for this purchase can be found here. Insiders purchased 37,387 shares of company stock worth $606,140 over the last quarter. 3.34% of the stock is currently owned by company insiders.

About Cadence Bancorp

Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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Earnings History for Cadence Bancorp (NYSE:CADE)

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